GAIL seeks NCLT approval to admit claim

Mumbai: State-owned GAIL India on Wednesday approached the National Company Law Tribunal (NCLT) seeking admission of its Rs 390-crore claim from Videocon Industries, which the resolution professional (RP) rejected earlier. In an application, the counsel for GAIL said the state-owned gas utility, which is an operational creditor of Videocon, should be included in the list of creditors.

"We want to file an application seeking a claim of Rs 390 crore which the RP had rejected," the counsel told the tribunal. The counsel based the application on a similar matter where GAIL, being an operational creditor, was allowed to be in the list of creditors for Essar Steel and Alok Industries by the Ahmedabad bench of NCLT, even as the RP had rejected both the proposals. The NCLT's Ahmedabad bench has directed the RP to include GAIL in the list of creditors for both the companies.